Search This Blog

Florida Hates Renters

(This story is based on a press release we received from Apartment List.)

30% of renters in Florida spend more than half their income on rent according to census data for 2007-2014 collected by Apartment List. Florida is one of the 3 worst states having the most cost-burdened renters.

During that period, 52% of renters in the United States were cost burdened. Florida's cost-burden rate was above 57%.

The share of cost-burdened renters in Florida increased from 56.4% in 2007 to 57.9% in 2014
The share of cost-burdened renters in the US rose from 49.3% to a high of 53.4% in 2011 - an increase of 1.7 million renter households. It has fallen a bit since then, to 51.8% in 2014.

Surprisingly, San Francisco, Seattle, Denver, and Austin performed relatively well - incomes have largely increased in line with rent growth.

San Francisco, Denver, Austin, and Seattle all had increasing rents of 30-40% from 2007 to 2014, but median incomes (mostly) kept pace, which allowed renter cost-burden rates to stay relatively low.